Multifamily Legacy Podcast in the NY City Podcast Network

070: Partner With People All Along The Way

Single-family stuff is for losers Commercial real estate is the way to go Make real money in this business through apartments buildings or self-storage Everybody needs space to store their stuff Fernando Angelucci is the self-storage king He was wholesaling single-family and multifamily houses but realized the cash buyers he was selling the properties to were making more money than he was as a wholesaler Fernando found out that all his issues could be solved by investing in self-storage Now he s making a lot of money Topics on Today s Episode Lessons Learned from First Deal Crooked contractors inspection issues and making less money than expected We call that experience no book will ever prepare you Hint If you re going to go to college pay attention and hangout with everybody they make good partners and investors later on Pioneers vs Partnerships If you do it alone you re the pioneer and get arrows in your back partnering makes it easier and they have systems processes Know what you are good at and not so good at partner with people who have strengths that are your weaknesses Fernando s wholesaling business now runs on automatic – thanks to processes and procedures put in place Two Sides Conflict of interest and residential rental laws never do anything that s not above board Getting fed up with constant rotation of contractors and evicting tenants Scott Meyers talking about self-storage Triple-digit cash-on-cash return Fernando fell in love with it immediately Self-storage is a recession-tolerant asset people downsize because of the economy or life choices but don t want to get rid of sentimental items High sticky factor low break-even occupancy because of low total expenses Links and Resources Mentioned Fernando Angelucci s Cell Phone Number 630-408-8090 Titan Wealth Group Rich Dad Poor Dad by Robert Kiyosaki DiSC Profile Myers Briggs Traction by Gino Wickman Scott Meyers of Self-Storage Investing National Association of REIT The Miracle Morning by Hal Elrod Quotes by Fernando Angelucci People assume that if something is going to have very low risk it s also going to have a very low capital return That s the opposite for self storage Go to college because degrees are good to have but the real importance is the network you build I d rather focus on making my strengths even better than trying to bring my weaknesses up to mediocre It s just a waste of my time I love to share my knowledge with people because it always comes back tenfold Don t forget to download my Free Workshop Quickstart Video Series and if you like what you have heard please leave a review on iTunes Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family Click here to visit this podcast episode